In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Naval Vessel MRO market for 2018-2023.
Naval vessels are differentiated from civilian ships by their design and purpose. Such ships are damage resilient and armed. Naval vessels MRO is crucial for sustaining and extending the life of a vessel. It comprises maintenance, overhauls, routine checks, inspections, repairs, and modifications carried out on a vessel and their components. MRO services assure the safety and airworthiness of naval vessels.
At present, the market of Naval Vessel MRO is concentrated in the coastal countries and regions. North America, Europe and Asia – Pacific are the main regions. North America is the largest area in the world, which occupied about 35.70% in 2016. The second large area is Asia – Pacific, accounting for 31.68%.
The global leading players in this market are BAE Systems, General Dynamics, Huntington Ingalls Industries, Northrop Grumman, Lockheed Martin, Raytheon, URS Corporation, Saab and Elbit Systems. The top 5 players occupied about half of the market.
The Naval Vessel MRO split to three segments by vessel type: Surface Warship, Submarines and Support vessels. Surface Warship dominated the market with a market share of 57.50% in 2016.
Over the next five years, LPI(LP Information) projects that Naval Vessel MRO will register a 8.8% CAGR in terms of revenue, reach US$ 13700 million by 2023, from US$ 8300 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Naval Vessel MRO market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
Engine MRO
Dry Dock MRO
Component MRO
Segmentation by application:
Surface Warship
Submarines
Support Vessels
We can also provide the customized separate regional or country-level reports, for the following regions:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East and Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
BAE Systems
General Dynamics
Huntington Ingalls Industries
Northrop Grumman
Lockheed Martin
Raytheon
URS Corporation
Saab
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Naval Vessel MRO market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Naval Vessel MRO market by identifying its various subsegments.
Focuses on the key global Naval Vessel MRO players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Naval Vessel MRO with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Naval Vessel MRO submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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